By judgment dated December 1, 2011, the Court of Appeals of Nîmes authored a new chapter of the “procedural” saga of BELVEDERE, a worldwide leader in wine and spirits. As counsel of one of the largest creditors of BELVEDERE, this is a case that we carefully monitor. The judgment of December 1 did not settle all pending issues. The Court will re-open the trial on January 5, 2012. Yet, the handed down judgment does clarify a procedural issue that had never been dealt with in the past concerning the suspensive effect of the Public Prosecutor’s appeal against a judgment ordering the conversion of safeguard proceedings into receivership proceedings.
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